The holiday parties are over, the eggnog is gone, and we’re all settling into a brand new year. Many of us are looking forward to what we want to accomplish in 2011. In fact, you may have set a few New Year’s resolutions for yourself by now. Some of the most popular ones are to lose weight, get more exercise, and quit smoking – all very good goals that focus on living healthy. But too often we overlook another critical component of our overall health: our financial health.

One of the first questions you should ask yourself during a financial check-up is, “Am I saving enough for retirement?” It may seem obvious, but this question is the most important one to answer. What does your current retirement savings plan look like? And are you well-prepared to maintain your current standard of living long into retirement?

Knowing whether you’re saving enough means you must know how much you’ll need later on. A major factor that affects our retirement savings, regardless of how much you have, is inflation. According to the U.S. Department of Labor, inflation has averaged about 3% per year over the last 30 years. What does that mean for you? Well, consider that at the end of a 30 year retirement, you will need about $2.43 to purchase what $1 would cost you today. That new outfit that costs $45 today may cost $110 near the end of your retirement. The same is true for housing, food, travel and gifts – everything gets more expensive over time, so saving enough is key.

Many people follow a three-part approach to fund their retirement: state pension, Social Security and private investments or savings. Each of these is worth a brief review during your annual financial check-up.

First, ask questions about your state pension. Be sure you know:

1. How much will I receive?
2. When will I receive it?
3. Can I move the money out of the pension program?

Answering these questions is critical to getting the most out of your pension. We’ve all heard horror stories about how underfunded state pensions are, so it’s important to know the condition of your own state pension plan. If possible, move your money out of the pension and into a guaranteed private retirement account. There are many such accounts that will pay you an annuity income for life, so you can rest assured of a continual stream of income. Your NEA Valuebuilder® representative can help you understand more about your state’s pension program, and what options there may be for you to move your portion.

The second retirement vehicle for many people is Social Security. According to the Department of Health and Human Services, more than 1 in 3 current retirees have virtually no other income than Social Security! Unfortunately, we can’t control how much Social Security we will receive, and benefits may not keep up with a higher inflation rate. That’s a worrisome prospect for those retirees who depend solely on Social Security. That’s why Social Security is best considered as a supplement to your retirement income, rather than as your income in its entirety.

Perhaps the most important items to review during your financial check-up are private investments. Why? Because unlike pensions and Social Security, your private investments are the only part that you can control. And the earlier you start investing, the better off you’ll be in retirement.

Many teachers are eligible to participate in private retirement programs such as those under sections 403(b) and 457 of the IRS tax code. Just like a 401(k) for private businesses, these provisions allow teachers, administrators, and other educational professionals to invest pre-tax (or sometimes post-tax) dollars into a private retirement account. You have control over how that money is invested, and you can contribute on an ongoing basis. You can also review frequently to ensure that you’re in the right investments: if you’re only 5 years away from retirement, it would be very risky to have all of your private savings invested in the stock market, for example, because the market can change very quickly. Your NEA Valuebuilder® representative can provide advice and review your account with you to ensure that your investments make sense for you.

In closing, there are three key questions to ask in your annual financial check-up:

1. Am I saving enough?
2. What can I do with my pension?
3. Am I in the right investments?

Answering these questions may help you on your way to a very happy and healthy retirement!

The NEA Valuebuilder Variable Annuity TSA, Contract Form No. V6029, is a flexible premium deferred variable annuity issued by Security Benefit Life Insurance Company (SBL). The NEA Valuebuilder 403(b)(7) is a Custodial Account under §403(b)(7) of the Internal Revenue Code. The NEA Valuebuilder IRA is an IRA Custodial Account under §408(a) of the Internal Revenue Code.

Services are offered through and securities are distributed by Security Distributors, Inc., a subsidiary of SBL, which is wholly owned by Security Benefit Corporation (“Security Benefit”).

The NEA Valuebuilder Program provides investment products (the “NEA Valuebuilder products”) in connection with retirement plans sponsored by school districts and other employers of NEA members and individual retirement accounts established by NEA members. Security Distributors, Inc. and certain of its affiliates (collectively “Security Benefit”) make the NEA Valuebuilder products available under this program pursuant to an agreement with NEA’s wholly-owned subsidiary, NEA’s Member Benefits Corporation (“MBC”). Security Benefit has the exclusive right to offer the NEA Valuebuilder products under the program, and MBC generally may not enter into arrangements with other providers of similar investment programs or otherwise promote to NEA members or their employers any investment products that compete with the NEA Valuebuilder products. MBC promotes the program to NEA members and their employers and provides certain services in connection with the program. Security Benefit pays an annual fee to MBC based in part on the average assets invested in the NEA Valuebuilder products under the agreement. You may wish to take into account this agreement and arrangement, including any fees paid, when considering and evaluating any communications relating to the NEA Valuebuilder products. NEA and MBC are not affiliated with Security Benefit. Neither NEA nor MBC is a registered broker/dealer. All securities brokerage services are performed exclusively by your sales representative’s broker/dealer and not by NEA or MBC.

You should carefully consider the investment objectives, risks, and charges and expenses of the mutual funds and variable annuity available under the NEA Valuebuilder Program before investing. You may obtain a prospectus that contains this and other information about the mutual funds or variable annuity by calling our National Service Center at 1-800-NEA-VALU (632-8258). You should read the prospectus carefully before investing. Investing in mutual funds and variable annuities involves risk and there is no guarantee of investment results.